Gold Chain Shopping Phuket &/or Hong Kong

[Ageless]

Hey,

I'm heading to Phuket and then Hong Kong in a week or so. Me thinks it might be a good time to shop for a gold chain whilst away.

I have briefly looked in HK before and the items were not to my taste, style seemed to be made for the China Mainland market. Never looked in Thailand before.

So wondering what my chances would be in finding a more "western" style chain preferably 18k (possibly 22k at a pinch), and if anyone had any stores they've tried or would suggest there?

Cheers!

 

[Dabloodymess]

It will be difficult to find 18K gold in Thailand. Over here that is known as 'farang' (foreigner) gold. If you do find it, you will most likely pay an inflated price.

Thais deal primarily in 23k gold. It is sold by the 'baht'.... yes the currency is also the baht, but it is also a measure of weight.

1 baht (in terms of gold) = 15.16grams.

When you are buying chains, bars or rings, it will be quoted by its weight in baht e.g. a '3 baht chain'.

Any good gold shop will show the daily spot on an electronic board. For bars you will get the spot price or a very small percentage over. For jewellery you will pay a percentage for workmanship. No one will ever ask (and you shouldn't pay) more than a 5% premium, no matter how nice the jewellery looks. Gold shops are easy to spot... always big red buildings, usually near the main market.

In Phuket though, you will have to venture pretty far from the tourist areas to get an authentic gold shop that will give you a good deal.

 

[Ageless]

It will be difficult to find 18K gold in Thailand. Over here that is known as 'farang' (foreigner) gold. If you do find it, you will most likely pay an inflated price.

Thais deal primarily in 23k gold. It is sold by the 'baht'.... yes the currency is also the baht, but it is also a measure of weight.

1 baht (in terms of gold) = 15.16grams.

When you are buying chains, bars or rings, it will be quoted by its weight in baht e.g. a '3 baht chain'.

Any good gold shop will show the daily spot on an electronic board. For bars you will get the spot price or a very small percentage over. For jewellery you will pay a percentage for workmanship. No one will ever ask (and you shouldn't pay) more than a 5% premium, no matter how nice the jewellery looks. Gold shops are easy to spot... always big red buildings, usually near the main market.

In Phuket though, you will have to venture pretty far from the tourist areas to get an authentic gold shop that will give you a good deal.

Thank you for your advice. No more than a 5% premium for jewellery? That's such a different offering to Aus.

 

[Dabloodymess]

It will be difficult to find 18K gold in Thailand. Over here that is known as 'farang' (foreigner) gold. If you do find it, you will most likely pay an inflated price.

Thais deal primarily in 23k gold. It is sold by the 'baht'.... yes the currency is also the baht, but it is also a measure of weight.

1 baht (in terms of gold) = 15.16grams.

When you are buying chains, bars or rings, it will be quoted by its weight in baht e.g. a '3 baht chain'.

Any good gold shop will show the daily spot on an electronic board. For bars you will get the spot price or a very small percentage over. For jewellery you will pay a percentage for workmanship. No one will ever ask (and you shouldn't pay) more than a 5% premium, no matter how nice the jewellery looks. Gold shops are easy to spot... always big red buildings, usually near the main market.

In Phuket though, you will have to venture pretty far from the tourist areas to get an authentic gold shop that will give you a good deal.

Thank you for your advice. No more than a 5% premium for jewellery? That's such a different offering to Aus.

No problems

It is very different in a good way! Of course you can still find high premium, western style jewellery in the bigger shopping malls but it isn't popular amongst regular Thais. They buy jewellery as a store of value rather than a pretty trinket. It is normal to go and get loans against the 'wedding gold' during tough times. Have fun on your trip.

 

[JulieW]

You'll also get a certificate from the gold shop. If you sell your gold back to that shop they'll give you a better price. (as if you'll sell!! lol)